1997 BMW Z3 Insurance Cost – 7 Ideas for Cheaper Prices

Have you fallen victim to high-priced insurance coverage? You’re preaching to the choir because you’re not alone.

Due to the abundance of insurance coverage companies to choose from, it can be hard to choose the lowest price insurance company.

Choosing the best insurance company for you is not that difficult. In a nutshell, anyone who shops for auto insurance will most likely be able to cut their insurance bill. But drivers do need to know the way companies price insurance differently.

Free car insurance quotes

Performing a rate comparison is a ton of work if you don’t utilize the fastest way to get free quotes. You can waste a few hours (or days) driving to insurance companies in your area, or you could save time and use online quoting to quickly compare rates.

Most major companies enroll in a system where prospective buyers only type in their quote data once, and at least one company returns a rated price. This system prevents you from having to do repetitive form submissions to each company. To compare rates using this form now click here (opens in new window).

The only downside to doing it this way is that consumers can’t choose which providers to get quotes from. If you would rather choose individual companies to request quotes from, we put together a list of low cost car insurance companies in your area. Click here for list of insurance companies.

Whichever way you use, ensure you are comparing equivalent deductibles and coverage limits on every quote you get. If your comparisons have different liability limits it will be nearly impossible to truly determine the lowest rate. Slightly different limits could skew the results. Keep in mind that more quotes helps locate better pricing.

Tailor your car insurance coverage to you

When it comes to choosing adequate coverage for your vehicles, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs so this has to be addressed. These are some specific questions could help you determine if your insurance needs might need an agent’s assistance.

  • What is high-risk coverage and where do I buy it?
  • Am I covered if my car is in a flood?
  • What is an SR-22 filing?
  • How much underlying liability do I need for an umbrella policy?
  • Which is better, split liability limits or combined limits?
  • Will I lose any money if I cancel my policy before it expires?
  • Can I rate high risk drivers on liability-only vehicles?
  • Does my medical payments coverage pay my health insurance deductible?
  • Am I covered if I wreck a rental car?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?

If you can’t answer these questions, you might consider talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

Auto insurance coverage basics

Having a good grasp of auto insurance can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and even agents have difficulty translating policy wording. Below you’ll find the usual coverages found on most auto insurance policies.

Comprehensive insurance

This covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like fire damage, damage from getting keyed, damage from a tornado or hurricane, rock chips in glass and vandalism. The most you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.

Liability car insurance

This coverage will cover damage that occurs to a person or their property that is your fault. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage protects against things such as attorney fees, funeral expenses, medical expenses, bail bonds and legal defense fees. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for immediate expenses for things like nursing services, hospital visits and rehabilitation expenses. The coverages can be used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants as well as getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible

Collision insurance

This pays for damage to your Z3 resulting from a collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like driving through your garage door, crashing into a building and hitting a parking meter. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Another option is to choose a higher deductible to save money on collision insurance.